RE:The Better The B/S Feel Good Cool News Gets... Rumour is that part of the financing deal with CGOC is that COOL will get new management. Supposedly the deal is going to be finalized "any day" and may already be finalized. Personally, I believe the rumour that part of the deal will be that Brad will no longer be CEO.
We may not get news of Brad resigning at the same time as the securing of the financing (if if actually happens), but I don't have a hard time believing that CGOC would only loan money and do a share swap with COOL so long as Brad steps down and they have some say in a replacement. No investement company would make this deal with COOL and leave in place a CEO who raised nearly $50 million to create a company that is now worth $5.5 million.
Brad's done some good things in regards to building the facility and navigating a challenging regulatory environment, but he's proven beyond the slightest shred of a doubt that he is a shockingly incompetent and foolish business man who has no clue how to grow a business and create shareholder value. He's also shown an appaling level of disrespect and indifference towards shareholders and a complete disregard towards potential investors in this company. Pretty mind blowing considering this is a publicly traded company that depends on shareholders and attracting new investors to survive and grow.
That being said, the major concern right now is if this debt financing doesn't go through. Brad's been selling his own shares in order to loan money to the company, so there's no doubt that COOL is broke. If this debt financing isn't secured, then I imagine this company will get sold for a slight "premium" on the atrocious market cap it currently holds, and most long term investors in COOL/LDS will end up stuck with a 70-90% loss on their investments.
However, if the financing is secured and it's announced that Brad is officially on his way out the door, people who get in at these prices could easily multiply their investment in very short order as the companies market cap is worth about 1/5 (probably more now) the value of the companies assets.
In my opinion, it's do or die time for COOL. Good luck to everyone still holding shares in this mess.